Robinhood has added Dogwifhat (WIF), a Solana-based coin, to its cryptocurrency trading options, generating considerable excitement among traders and investors. Known for its limited crypto offerings, Robinhood’s inclusion of WIF signals the growing acceptance of meme coins within mainstream trading platforms. Following the announcement, WIF price surged more than 13% in an hour, reaching a weekly high of $3.655 before consolidating.
Dogwifhat WIF Price Could Hit $5 as Robinhood Expands Crypto Offerings
Following a recent announcementDogwifhat (WIF) on the Robinhood platform has sparked optimism about the future price trajectory of the meme coin. This marks a notable expansion of Robinhood’s cryptocurrency portfolio, which historically included only a few carefully selected cryptocurrencies. WIF is the second meme coin added by Robinhood this month, following the Pepe’s listanother very popular project.
WIF price reached a high of $3.655 following the announcement, reflecting increased trading activity and market interest. Experts suggest that if WIF breaks key resistance levels around $3.75, it could see further growth. If bullish sentiment persists, market analysts predict a potential rise to $5.
Data from CoinMarketCap indicates that Dogwifhat saw a 50% increase in trading volume in the 24 hours following Robinhood’s announcement. This sharp increase in activity reflects increased interest from investors and traders. The coin’s open interest also increased by 9%, signaling strong participation in the futures and options markets.
Technical indicators support the possibility of further growth
The Stochastic RSI on the chart indicates that the asset recently experienced overbought conditions near 80 and has since fallen into the 11-12 range, signaling oversold levels. This suggests potential for a bullish reversal with current momentum.
The Bull and Bear Power (BBP) indicator also shows positive momentum at 0.2377, suggesting that the bulls remain in control despite recent corrections. The bullish histogram reflects strong buying interest.
Robinhood’s decision to list Dogwifhat highlights the evolving role of best coins in the cryptocurrency market. Meme tokens like WIF have always attracted new investors during bullish market conditions. With cryptocurrency options increasing, Robinhood’s approval of WIF indicates growing confidence in the coin industry.
Dogwifhat’s market capitalization now stands at $3.3 billion, making it the fifth largest coin in terms of valuation. This follows a recent analysis which highlights WIF Price Potential to reach its all-time high (ATH) this week.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With more than 4,000 articles published in various media, it aims to inform, educate and introduce as many people as possible to the world of Blockchain and DeFi. Outside of his journalism career, Ronny enjoys cycling and exploring new trails and landscapes.
Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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